Bryant sophomores competing for $30,000 in seed money to launch their business
Later today, a team of Bryant students will challenge MBA candidates from Babson College in the final round of the Ideas Into Action Business Plan Competition.
About a year ago, Morgan Morris ’12 (Sandwich, MA) and her team in “Business 101” were brainstorming ideas for their business plan project. They wanted to come up with a concept that related to their lives, helped people save money, and was friendly to the environment all at the same time.
That’s when PURO, a portable and customizable individual water filtration system, was born.
In only a year, the enterprising group has brought the fledgling idea to the cusp of winning a prestigious business plan competition that would net them $20,000 in seed money.
This afternoon, Bryant will compete in the Ideas Into Action Business Plan Competition sponsored by Babson College. The appearance marks Bryant’s first appearance in the contest that is part of the 8th Annual Babson Forum on Entrepreneurship. Presenting for her group, Morris will be facing off against two teams from Babson, one made up of fast-track MBA candidates and another led by a 2009 MBA graduate.
Each team will have six minutes to make a presentation before fielding questions from a panel of executives, accountants, lawyers, and professors.
“Countless hours were put into creating our business plan,” says Morris. “All of our hard work paid off as we received a grade we were proud of, and we have a chance to actually start our business.”
In addition to Morris, PURO team members include: Emily Charpentier ’12 (Walpole, MA), Paul Dornfeld ’12 (Newton, MA), Kayla Manzi ’12 (Agawam, MA), Lauren Sheridan ’12 (Bethpage, NY), and Jenna Zinno ’12 (Johnston, RI).
‘Just do it’
Dornfeld, who came up with the original idea of a filtered water bottle, says the project taught him to follow the Nike slogan: Just Do It. “Don’t sit on a good idea,” he says. “If you believe you have something special, be active. Our professors have been so supportive in believing in us, our idea, and the potential it has.”
The opportunity to create plans for an actual company allowed the team to delve into the intricacies of building a business, says Charpentier. “This project taught us how to build a business from the ground up and really brought out the entrepreneur in all of us,” she says. “It was fun to take a creative idea and run with it.”
The team is realizing success because – from the beginning – they had set their sights higher than earning a good grade. “We are still working hard at team meetings a year later,” says Sheridan. “We could have been satisfied by just completing the plan, but our commitment will lead us to carry this out until we reach success.”
“Every single member of our team is very excited about our product,” adds Manzi. “This made working on the project very enjoyable.”
Ultimately, Zinno says, the experience simulates what she and her teammates will encounter in the real world. “A project like this teaches us how to work together to accomplish a goal,” she says. “Creating a business is a lot of work, but it is clear that hard work truly pays off.”
Passionate pursuit
The success of the team isn’t a surprise to their “Business 101” professor, Management Lecturer Dave Greenan, who encouraged them to enter their business plan in the Babson competition. The plan was selected among 30 to advance to the final round based on their market analysis, opportunities, and competitive advantages.
“We ask all of our students to treat the business plan assignment as a real project with the goal of launching the idea during their time at Bryant or shortly thereafter,” says Greenan.
The PURO team isn’t the first group to use Business 101, a class required for all first-year students, as a springboard to launch a business idea. Eddie’s Energy Bars, an idea developed by Mike Adams ’10 (Richmond, VT) was recently named one of “100 Brilliant Companies” by Entrepreneur magazine. Several years ago, Joe D’Ambrose ’08 partnered with several classmates to create Expedient Laundry, a door-to-door professional laundry service for Bryant students.
“These out-of-classroom experiences are what college is all about,” says Morris. “With visions of starting PURO, I know all the concepts we learned will be useful in the future.”
One of the best pieces of advice that Morris has received came from Cary Collins, trustee professor of entrepreneurship and coordinator of Bryant’s entrepreneurship program. He told her not to be afraid to fail.
“My favorite part of the whole project was sharing the excitement with my teammates,” says Morris. “Our group is full of passionate people, and our strong desire to see PURO succeed is truly motivating.”
That’s when PURO, a portable and customizable individual water filtration system, was born.
In only a year, the enterprising group has brought the fledgling idea to the cusp of winning a prestigious business plan competition that would net them $20,000 in seed money.
This afternoon, Bryant will compete in the Ideas Into Action Business Plan Competition sponsored by Babson College. The appearance marks Bryant’s first appearance in the contest that is part of the 8th Annual Babson Forum on Entrepreneurship. Presenting for her group, Morris will be facing off against two teams from Babson, one made up of fast-track MBA candidates and another led by a 2009 MBA graduate.
Each team will have six minutes to make a presentation before fielding questions from a panel of executives, accountants, lawyers, and professors.
“Countless hours were put into creating our business plan,” says Morris. “All of our hard work paid off as we received a grade we were proud of, and we have a chance to actually start our business.”
In addition to Morris, PURO team members include: Emily Charpentier ’12 (Walpole, MA), Paul Dornfeld ’12 (Newton, MA), Kayla Manzi ’12 (Agawam, MA), Lauren Sheridan ’12 (Bethpage, NY), and Jenna Zinno ’12 (Johnston, RI).
‘Just do it’
Dornfeld, who came up with the original idea of a filtered water bottle, says the project taught him to follow the Nike slogan: Just Do It. “Don’t sit on a good idea,” he says. “If you believe you have something special, be active. Our professors have been so supportive in believing in us, our idea, and the potential it has.”
The opportunity to create plans for an actual company allowed the team to delve into the intricacies of building a business, says Charpentier. “This project taught us how to build a business from the ground up and really brought out the entrepreneur in all of us,” she says. “It was fun to take a creative idea and run with it.”
The team is realizing success because – from the beginning – they had set their sights higher than earning a good grade. “We are still working hard at team meetings a year later,” says Sheridan. “We could have been satisfied by just completing the plan, but our commitment will lead us to carry this out until we reach success.”
“Every single member of our team is very excited about our product,” adds Manzi. “This made working on the project very enjoyable.”
Ultimately, Zinno says, the experience simulates what she and her teammates will encounter in the real world. “A project like this teaches us how to work together to accomplish a goal,” she says. “Creating a business is a lot of work, but it is clear that hard work truly pays off.”
Passionate pursuit
The success of the team isn’t a surprise to their “Business 101” professor, Management Lecturer Dave Greenan, who encouraged them to enter their business plan in the Babson competition. The plan was selected among 30 to advance to the final round based on their market analysis, opportunities, and competitive advantages.
“We ask all of our students to treat the business plan assignment as a real project with the goal of launching the idea during their time at Bryant or shortly thereafter,” says Greenan.
The PURO team isn’t the first group to use Business 101, a class required for all first-year students, as a springboard to launch a business idea. Eddie’s Energy Bars, an idea developed by Mike Adams ’10 (Richmond, VT) was recently named one of “100 Brilliant Companies” by Entrepreneur magazine. Several years ago, Joe D’Ambrose ’08 partnered with several classmates to create Expedient Laundry, a door-to-door professional laundry service for Bryant students.
“These out-of-classroom experiences are what college is all about,” says Morris. “With visions of starting PURO, I know all the concepts we learned will be useful in the future.”
One of the best pieces of advice that Morris has received came from Cary Collins, trustee professor of entrepreneurship and coordinator of Bryant’s entrepreneurship program. He told her not to be afraid to fail.
“My favorite part of the whole project was sharing the excitement with my teammates,” says Morris. “Our group is full of passionate people, and our strong desire to see PURO succeed is truly motivating.”
